1.When determining deprecation, it is based on:

A. estimated cost of the asset, estimated residual value, and estimated useful life

B. actual cost of the asset, estimated residual value, and actual useful life

C. actual cost of the asset, estimated residual value, and estimated useful life

D. actual cost of the asset, actual residual value, and actual useful life

2.Deprecation of a plant asset is NOT based on ________.

A. capitalized cost

B. estimated residual value

C. market value

D. estimated useful life

3.In a lumpsum purchase, total cost is divided among the assets according to ________________.

A. their relative costs

B. their relative market values

C. their lumpsum values

D. their lumpsum costs